Circle Internet Group, one of the largest internet-based financial platform companies across the globe, has received a major regulatory approval in the UAE, as it moves to expand its footprint in the Middle East.
The company stated that it received a Financial Services Permission (FSP) license from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) to become a Money Services Provider in the international financial center.
Along with this achievement, Circle has appointed Dr. Saeeda Jaffar as managing director for the Middle East & Africa (MEA).
Dr. Saeeda Jaffar, who is serving as senior vice president and group country manager for the GCC at Visa, will now lead Circle’s regional strategy and supervise efforts to widen collaborations with financial institutions and enterprises.
She will also lead the implementation of trusted digital dollars and on-chain payment solutions within the UAE and the MEA region.
Co-Founder, Chairman, and CEO of Circle, Jeremy Allaire, said that “Regulatory clarity is the foundation of a more open and efficient internet financial system. We are honored to work with the FSRA in ADGM. Their framework sets a high bar for transparency, risk management, and consumer protection—standards that enable trusted stablecoins to power real-world payments and finance at internet scale. I’m also delighted to welcome Dr. Saeeda Jaffar to Circle. Her deep regional expertise, strategic vision, and reputation for building high-performing partnerships will be invaluable as we expand our presence in the UAE and MEA.”
However, the ADGM embraced the regulatory-first approach, highlighting its contribution to responsible uptake of digital assets throughout the financial system.
Chief Market Development Officer of ADGM, Arvind Ramamurthy, stated that “Circle’s regulatory-first approach aligns with ADGM’s commitment to responsible innovation. With clear rules for fiat-referenced tokens, the UAE is enabling the safe, scalable adoption of digital assets across the financial system. Circle’s regulated presence in ADGM reinforces our ambition to build a trusted, institutional-grade digital asset ecosystem in Abu Dhabi, one that enhances market confidence, supports real-world use cases, and cements the UAE’s role as a leading hub for regulated digital finance.”
Having the FSP license, the Circle is now able to increase the number of regulated payment and settlement applications to businesses, developers, and financial institutions within the UAE.
This approval facilitates the mission of providing trusted digital dollars on-chain by Circle and contributes to the work of the UAE in the development of an open and innovation-oriented financial system.
The expansion expands on Circle’s increasing presence in the UAE, such as the Dubai International Financial Center recognition this year, USDC and EURC as the first stablecoins to comply with the crypto token regime under the DFSA.
It is also an indicator of the momentum of Circle as a publicly traded company that allows enterprises all over the world to utilize its on-chain utility.
